Working in the downward direction is profitable as the pair continues to form a bearish impulse model. The first goal of the decline – the January minimum, and the main medium-term goal – the average weekly move, within which the WCZ 0.6561-0.6555 is located.
Retention of sales that were opened earlier is the main plan. Repeated sales will require getting better prices.
An alternative model of deep correction will be developed if there is an increase in the WCZ 1/2 0.6662-0.6656. This will allow you to re-enter a short position, as the ratio of risk to profit at these levels will be very profitable. It is important to understand that the current local accumulation zone occurs within the medium-term downward momentum, so the priority remains to fall.
Daily CZ – daily control zone. A zone formed by important data from the futures market that changes several times a year.
Weekly CZ – weekly control zone. The zone formed by important marks of the futures market, which change several times a year.
Monthly CZ – monthly control zone. A zone that reflects the average volatility over the past year.
The material has been provided by InstaForex Company – www.instaforex.com